In this edition of the Glossy+ Research Briefing, we look into Black Friday and Cyber Week sales results compared to last year and the moderate retailer discounting that attracted an influx of shoppers.
Black Friday and Cyber Week sales numbers are up from last year
Retailers spread holiday cheer with Black Friday and Cyber Week deals over the Thanksgiving holiday and into this week. However healthy holiday spending was not guaranteed, with factors like inflation and a shorter shopping period between Thanksgiving and Christmas affecting consumer behavior.
According to data from eMarketer, shoppers started their holiday shopping earlier this year and are spreading their purchases across the season. Additionally, according to eMarketers’ analysis, physical stores will account for the majority of holiday purchases shoppers make this season, as consumers take the time to shop in person for holiday merchandise.
Transactional data from Square, Afterpay, and CashApp showed an 18% growth of in-person shopping this year when compared to last year. But that doesn’t mean online holiday shopping is out. The data also noted a 14% growth year-over-year in online shopping.
Shopping insights from a recent Salesforce report show, global online sales during the first four weeks of the holiday season (Nov. 5 – Dec. 2) were up 8% in the United States and worldwide compared to the same time last year. Black Friday, the strongest shopping day of the week, also saw a 7% year-over-year increase in the U.S.
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“Shoppers were waiting all of 2024 for the right moment to buy the goods they wanted, and they clearly made the most of this Cyber Week. Strong year-over-year (YoY) order growth indicates that even modest discounts were enough to convince consumers to open their wallets,” said Caila Schwartz, director of consumer insights at Salesforce.
According to the Salesforce data, retailers didn’t offer deeper discounts this year compared to last year, even with competition from discount marketplaces like Temu, Shein and AliExpress. The average discount rate was 26% globally and 28% in the U.S. — both down 1% year-over-year. But these modest discounts on must-have items were enough to convince consumers.
